Skip to main content

Five Busted in Iowa Mortgage Fraud Scam

NationalMortgageProfessional.com
Sep 15, 2011

A federal grand jury has indicted five Iowans on mortgage fraud charges, in a case led by the Federal Bureau of Investigation (FBI) with assistance from Iowa Attorney General Tom Miller and the Iowa Division of Banking. Nicholas A. Klinefeldt, U.S. Attorney for the Southern District of Iowa, announced the indictments. One indictment charges Jason Kibbee of Kellogg, Iowa with one count of wire fraud and one count of making a false statement to a financial institution. The other indictment charges conspiracy to commit wire fraud against Lane Anderson of Altoona, Iowa; David Mable of Urbandale, Iowa; Shannon Flickinger of Earlham, Iowa; and Paul Kramer of Granger, Iowa. The indictment alleges that Kibbee made false statements, used a disabled relative as a straw buyer, and forged documents in connection with a real estate transaction that he said would help a homeowner whose house was in foreclosure. Kibbee is also accused of keeping money paid by the homeowner instead of applying it to the mortgage. The indictment alleges that Kibbee was an employee of a mortgage brokerage at the time of the offenses and also owned a company that purportedly helped distressed borrowers with their mortgage loans. The indictments follow the formation of the Iowa Mortgage Fraud Working Group to combat mortgage fraud in the Southern District of Iowa. U.S. Attorney Klinefeldt and Iowa AG Miller announced the federal-state partnership in December. The group identifies and investigates targets for criminal prosecution in the Southern District of Iowa and performs other important functions in the fight against mortgage fraud. “This is exactly the combined effort we envisioned when we formed and announced this partnership,” said Miller. “I commend the all the hard work by the FBI and U.S. Attorney to pursue alleged mortgage fraud and I look forward to continuing this joint effort.” Miller noted this partnership and indictments are separate from the national mortgage foreclosure and servicing civil investigation and settlement negotiations that he is leading on behalf of 50 state attorneys general.  
Published
Sep 15, 2011
'A Long Road To Normal'

Nominated again to lead The Fed, Powell tells Senate committee to expect three rate hikes, but 'if we have to raise interest rates more over time, we will.'

Regulation and Compliance
Jan 11, 2022
CFPB: Complaint Response Worsens At Big 3 Credit Bureaus

Report claims Equifax, Experian, and TransUnion routinely failed to fully respond to consumers with errors.

Regulation and Compliance
Jan 10, 2022
The Fed Names Chairs, Deputy Chairs For 12 Reserve Banks

In recent years, the Federal Reserve System has worked to increase the overall diversity of the Reserve Bank and branch boards of directors and continues to build on those efforts.

Regulation and Compliance
Jan 06, 2022
The Fed: Rate Hike Likely Coming in June

Federal Open Market Committee's December minutes reveal discussion of first hike in federal funds rate in 2Q of 2022, as well as of ending asset purchases by March.

Regulation and Compliance
Jan 05, 2022
AARMR No Protection For Savanah Scares

Conference provides opportunity for regulators to interact, discuss common topics

Regulation and Compliance
Jan 04, 2022
McCargo Sworn In As Ginnie Mae President

Former HUD official becomes the first female to lead the Government National Mortgage Association.

Regulation and Compliance
Jan 04, 2022